To Let
168-170 Fawcett Road,
Southsea,
Hampshire,
PO4
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Retail and Leisure, D1 and Other, Offices
580 - 1,214 Sq Ft (53.88 - 112.78 Sq M)
- Well located
- Busy retail location and residential area
- Near to Fratton train station and Albert Road
- Double fronted unit with garden space
- 100% business rate relief possible
- Assignment of existing lease
- Rent £19,560 pax
- Three phase electricity supply
- Premium for fixtures and fittings
- Nearby occupiers include Baffled Coffee, Spice N Grill, Southsea Food & Wine and La Diva Hair Salon
Location
Portsmouth is located approximately 19 miles south east of Southampton and 70 miles south west of London. The city benefits from excellent road communications being situated at the M27/A27 junction, which links to M3 and A3(M) and provides access to London and the wider national motorway network.
The property is situated on the western side of Fawcett Road in Southsea, which is an established retail location and a densely populated suburb of Portsmouth.
Description
Fully Fitted Restaurant / Bar Premise
Sales Area 112.79 sq m (1,214 sq ft)
Accommodation
The property comprises a double fronted ground floor Class E premises that has previously been let as two separate units. The right hand side (168) has a fitted bar with seating, two W/Cs and the entrance to a garden seating area. The left hand side (170) has further seating and a fully fitted kitchen with storage. There is a rear access for bins down an alley.
The current tenant seats around 40 covers but there is room for more, plus additional seating outside.
The premises benefits from three phase, A/C and extraction for shisha use.
There is a premises license.
We have measured and calculate the premises to have the following approximate Net Internal Area (NIA):
168 - 58.90 sq m (634 sq ft)
170 - 53.89 sq m (580 sq ft)
Total size - 112.79 sq m (1,214 sq ft)
Planning
A new Use Classes Order (UCO) came into effect on 1st September 2020. Under the new UCO a new Use Class E was introduced to cover commercial, business and service uses. Use Class E encompasses A1, A2, A3, B1 and some D1 and D2 uses under the former UCO. We therefore understand that the premises benefit from Class E 'Commercial Business and Service' use within the Use Classes Order 2020.
Interested parties should make their own planning enquiries and satisfy themselves in this regard.
There has been a retrospective planning application ( 24/00665/PLAREG) from Class E to form restaurant/bar/shisha lounge.
VAT
We understand that the property is not elected for VAT.
Legal Fees
The prospective tenant will be required to contribute to the costs incurred in this transaction.
Terms
The property is available by way of an assignment of the existing full repairing and insuring lease, which is due to expire on 1st July 2034. The passing rent is £19,560 per annum exclusive and is subject to annual rent reviews of 3%. A copy of the lease can be made available upon request.
There are two separate leases for each property. If the opportunity arises, they could be assigned separately or for the whole property.
Premium offers are invited for our client's leasehold interest. Further details on application.
Rateable Value / Council Tax Band
The premises are currently rated separately.
168 Rateable Value (2023): £4,150
170 Rateable Value (2023): £5,900
The occupier may be entitled to 100% Small Business Rate relief.
Energy Performance Rating
We understand the property has an EPC rating of E.
Viewing
For further information or to arrange a viewing, please contact:
Alice Masterman
023 9262 9006
a.masterman@flude.com